Facebook’s (FB) WhatsApp Tied to Lynchings in India

FB stock fell more than 1.8% on Friday

Facebook (NASDAQ:FB) is facing a major problem in India that is linked to its WhatsApp messaging app, which is being blamed for several lynchings in the country.

FB Stock
Source: Facebook

The social media site’s messaging service has caused issues in India due to a number of widely-distributed hoax messages that have been sent on the app, resulting in more than a dozen lynchings across the Asian country. The company has implemented several new features over the last few weeks with the intent of fixing the problem.

One of the most recent features was rolled out last week for testing and it uses a red label to let users know that they may have been sent a suspicious link. The changes to WhatsApp are part of a broader effort by Facebook with the hope of helping reduce the amount of misinformation that is spread online.

The company’s stock sunk as much as 19% on Thursday as executives said that its revenue growth would slow down as the company is investing in making changes to user privacy, which eliminated roughly $119 billion in the company’s market value.

“Facebook is currently facing a global problem of trust,” said Nikhil Pahwa, co-founder of India’s Internet Freedom Foundation. “Regulators do not trust them at this point in time because they have allowed certain activity to fester without dealing with it.”

FB stock fell about 1.8% on Friday following the news.


Article printed from InvestorPlace Media, https://investorplace.com/2018/07/facebooks-fb-stock-whatsapp/.

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